ATLANTA, GA. – December 10, 2015 – Municipal Communications (“Municipal”) announced today that it has completed the sale of an undisclosed number of cellular towers to SBA Communications. The proceeds from the transaction will be used to support Municipal’s growth as it continues to develop wireless facilities across the United States.
Municipal develops, owns, and operates communications towers in the Southeast, Southwest, Midwest and Northeast. Municipal specializes in working closely with cities, counties, etc., to gain and zoning approval for projects that are primarily located in urban and suburban areas. Municipal is financially backed by its senior management and Seaport Capital, a middle market private equity investor with meaningful experience investing in the cellular tower industry.
“This second transaction with SBA further enhances our ability to develop significant numbers of towers for our clients in key markets” said Peter Corry, CEO of Municipal Communications. “We appreciate the efforts of SBA and Media Venture Partners who brokered these 2015 transactions”.
“Municipal will continue to grow as the national carriers’ demand for macro sites increases,” said Bob Tamashunas, Partner of Seaport Capital.
About Municipal Communications
For additional information, visit www.municipalcom.com.
About Seaport Capital
Founded in 1997, Seaport Capital provides capital to middle market companies in the communications, media, and business services sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport's extensive investing experience enables it to develop successful strategies; its relationships and resources help achieve them. The firm seeks to invest $5 to $25 million of equity capital in each portfolio company. For additional information, visit www.seaportcapital.com.
About SBA Communications Corporation
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central and South America. By "Building Better Wireless", SBA generates revenue from two primary businesses - site leasing and site development services. SBA's primary focus is the leasing of antenna space on its multi- tenant towers to a variety of wireless service providers under long-term lease contracts.
For more information please visit: www.sbasite.com.